Saudi-listed Arabian Drilling has acquired a new self-elevating offshore service platform for SAR 260 million ($69.3 million) to boost its operations.

The acquisition, which is in response to the growing demand for servicing oil and gas offshore wells, has expanded the rig owner’s fleet to 62, including 49 land rigs, 11 offshore jack-up rigs and 2 offshore self-elevating service vessels.

The new unit is expected to support the company’s drilling activities and will start operations by the middle of the year.

In October 2024, the company outlined its strategy to expand capacity in offshore service activities. By the end of the first quarter of 2025, Arabian Drilling deployed 13 new land rigs in the kingdom, expanding its land fleet size to 49 rigs.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com